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CVC hires India partner from Apollo

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CVC Capital Partners has recruited Nikhil Gahrotra, an India-based partner at Apollo Global Management, to its private equity team.

The development, first reported by Bloomberg, has since been confirmed to AVCJ by a source close to the situation. CVC declined to comment.

Gahrotra has been with Apollo since 2016, serving as a member of the financial institutions group. Before that, he worked for BanyanTree Growth Capital, an India-focused private equity firm, 3i Group, and Q Investments, a US-based hedge fund that was entering India. Gahrotra began his career in finance as an investment banker at Citi.

CVC is currently in the market seeking USD 6.5bn for its sixth pan-Asian fund. A first close of USD 3.5bn came at the end of last year. Last month, the firm achieved a final close of EUR 26bn (USD 29bn) on its largest global flagship fund – the largest vehicle ever raised by the private equity industry.

India-based portfolio companies include Gujarat Titans, an expansion franchise participating in the Indian Premier League (IPL) cricket tournament, cancer clinic chain Healthcare Global Enterprises, agrochemical supplier Sajjan India, and legal process outsourcing business UnitedLex.

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